Marc Govoni named CEO of TP ICAP’s agency execution division

Dan Barnes
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Mark Govoni, TP ICAP Group.

TP ICAP, the electronic market infrastructure, interdealer broker and information provider, has appointed of Mark Govoni as chief executive officer of its agency execution division. Govoni replaces John Ruskin, who has decided to step away from the business having successfully led the integration of Liquidnet into the TP ICAP Group. Ruskin will stay with the Group until the end of June to ensure an orderly transition.

TP ICAP’s Agency Execution division is formed of the Liquidnet and COEX Partners brands. The two businesses provide trading services for a broad range of asset classes to a client base of asset managers, asset owners and hedge funds.

Govoni joins TP ICAP from Instinet, a firm he joined in 2012 and where he served most recently as president of US brokerage, having previously held the role of head of US sales trading. Prior to Instinet, Govoni was a managing director at Nomura Securities International, responsible for US execution services. Earlier in his career, he held senior program and electronic sales trading positions at Merrill Lynch. Govoni will be based in New York and report directly to TP ICAP Group CEO Nicolas Breteau.

Breteau said, “Mark is a proven US equity specialist. He has an extensive client network and is well connected to the industry’s top talent. Combine this with his energy, ambition, and ability to build industry-leading businesses and Mark is well placed to drive the performance of our buy-side-focused franchise in the US and beyond. Mark will build on the legacy left by John Ruskin, who I’d like to thank sincerely for the huge contribution he has made to TP ICAP. As well as stepping up to successfully execute the integration of Liquidnet, over the last five years John has championed the group’s diversification strategy to expand our buy-side offering. As a result, our agency execution division generated more than 10% of the group’s revenue in 2021. Mark will now take up the baton from John to drive future growth.”

Govoni said, “TP ICAP’s Agency Execution platform has strong and trusted client relationships, global reach, top tier technology and high calibre people. Together, these attributes position the platform to shape the future of electronic markets. I’m excited to get going, to build on the achievements of John and the team, and to advance our offering so that we serve our clients even more effectively.”

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